In this video: Bitcoin broke below 81,600 today, the level we had flagged as the first signal that the bears are starting to lead. Is this the October correction we have been talking about for weeks? In this Bitcoin analysis we show you the three warnings from my earlier videos, with the original clips: the time cycles from our Cycle Engine, the golden cross of 9 September and the five-wave structure from the July low. Then the chart with Elliott Wave: where the next support is, why we would expect a bounce over the weekend or next week, the orange alternative with one more high, and the zone on the daily chart that decides the bigger picture. Video by More Crypto Online.
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Bitcoin (BTC) has broken lower from its recent trading range, dropping sharply to around $80,950 after multiple failed attempts to reclaim its 2026 opening price of $87,570. The sudden market downturn has triggered nearly $1 billion in crypto liquidations over the past 24 hours, with over $238 million stemming directly from Bitcoin long positions.
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Bitcoin Insights Today
• Macroeconomic Headwinds: A aggressive surge in macro risk factors is heavily weighing on risk assets. The U.S. 10-year Treasury yield skyrocketed to 5.352%, and the U.S. Dollar Index (DXY) strengthened to 102.4. At the same time, geopolitical tensions have caused a dramatic energy spike, pushing WTI Crude over 4% higher to $92.40 a barrel and Brent crude past $105.
• Government and Whale Selling Pressure: On-chain data tracking revealed that U.S. government-linked wallets transferred $566 million worth of digital assets (including 4,632 BTC) to Coinbase Prime. Additionally, a long-dormant whale wallet awakened after four years of inactivity to transfer 4,500 BTC, stoking immediate market fears of incoming spot dumps.
• ETF Resilience vs. Spot Outflows: Despite today's volatility and a historical pattern where Bitcoin spot ETFs have logged outflows on nearly half of all trading days in 2026, the funds have still amassed a net positive $1.2 billion for the year, illustrating steady foundational institutional capital despite short-term pullbacks.
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